Christina bought a new car for $32,000. She paid a 20%down payment and financed the remaining balance for 60 months with an APR of 5.5%. Determine the monthly payment that Christina pays. Round your answer to the nearest cent, if necessary.
Christina bought a new car for $32,000. She paid a 20%down payment and financed the remaining balance for 60 months with an APR of 5.5%. Determine the monthly payment that Christina pays. Round your answer to the nearest cent, if necessary.
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 25PROB
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Christina bought a new car for $32,000. She paid a 20%down payment and financed the remaining balance for 60 months with an APR of 5.5%. Determine the monthly payment that Christina pays. Round your answer to the nearest cent, if necessary.
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